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Behavioral Economics Conference.

March 5, 2011

This month I will apply to participate in an US conference on the relationships between economics and psychology. Why? For the silly reason of what an article in Bloomberg Businessweek, “On the SaudiStreet,SilenceSpeaks Volumes.” (Glen Carey, Joseph Carol, Peter Green and Steve Voss, February 28) didn’t say. My hope is that the conference will say it, but I doubt it. What is it?

The Bloomberg article describes the state of the economy in 4 oil-producing countries: Libya, Bahrain, Saudi Arabia and Iran, none of which uses the billions from oil revenues effectively, although Saudi Arabia is not as bad as the others. Can you imagine what a great CEO like Steve Jobs at AAPL could do with extra 50 billion dollars free to spend for his company (country) every year? He’d probably build  a mile wide Enterprise spaceship going to a well-known habitable planet, stuff it with educated people and also feed 82 million Egyptians.

My point is that the CEO of a country is everything, and the Arab world just don’t have good CEOs for their countries. In Egypt Mubarak leaves a bad economy after 18 days, fired by the Board (people). In Libya, Kadafi kills the Board. I tell you, it’s all personalities, everything, give me an Amazon’s Besos and I go live in his Brazil. Give me 99% of the CEOs in the US and I puke. I have been with Steven Jobs Apple for 20 years, financing great vacations. I wouldn’t touch Bill Gates after 2000. Give me Mugabe and I leave Africa. Give me Barak Obama and I will make him a one term president, lest the US goes bankrupt.  Give me Teddy Roosevelt and I build a canal that allows shipping between the Pacific and the Atlantic. Hey, it’s all in the CEO. That’s what my article presented at the conference will be all about (hopefully). It isn’t difficult to figure out that a great CEO is a God, but no one else besides me thinks that way except Warren Buffett who said that you need  only two things to make lots of money in the stock market: a quality CEO is first. Guess what the second is? A  quality CEO! Can you imagine what these 4 Arab countries CEOs could do for their people and for humanity with all their oil money if they had the right personality?  (if they were great CEOs).  Economists, listen for God’s sake, go back to your balance sheet only if you are happy with a mutual fund’s 5% capital gain! I don’t get it – why no one wants to call an ace an ace?

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